Sunday, October 16, 2016

Branding

          Branding is a big deal in marketing. Often times consumers might even forget the product all together but remember the pitch or the celebrity whom endorsed it. I have noticed the trend with retired athletes, celebrities, and even ones still working. Of course one of the biggest names that immediately comes to mind is Michael Jordan, and his shoes. Research shows that the Jordan brand grossed over $100 million dollars in 2015. This is just off the sale of his very popular shoes, not including his clothing and or his athletic gear. When those figures are added in Forbes estimates Jordan's' brand at over $1 billion dollars.
         Jordan's branding includes his icon logo of himself jumping with a basketball in hand. Now although Jordan did not invent shoes or clothing. He necessity that people must have, clothes and shoes, and capitalized on it big time. His deal to partner with Nike was the biggest deal in its time Nike offered Jordan a record $500,000 a year for 5 years and put many stipulations on this deal. Jordan would eventually over come all of the stipulations and become the household name that he is now, and arguable one of the most recognized brands in the world. Not only does he had record sales he has also created a 'cult' following with consumers lining up to get each new pair of his shoes ad 'collecting' them. 
        So if every company could follow Jordan's every move marketing and branding would be all a company needed. But there is no 'playbook' to Jordan's success. Some say it is simply everything he touches turns to gold.

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